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Strategies for Professional Growth · Quiz 2 · 12 Apr 2026 · January 2026 term

Question 16: Aisha, an IITM graduate, has just started her first job …

Question 16

+1 markOne correct option

Aisha, an IITM graduate, has just started her first job with a salary of ₹14 Lakhs per annum. If Aisha buys a car for ₹8 Lakhs using a car loan to commute to work, how does this affect her personal balance sheet?

  1. A

    Her net worth increases by ₹8 Lakhs immediately.

  2. B

    Her assets increase by ₹8 Lakhs, but his liabilities also increase by the loan amount.

  3. C

    It has no impact on the balance sheet as it is a personal expense.

  4. D

    The entire ₹8 lakh is recorded only as a liability, since the car was purchased using a car loan.

Show answer

Correct answer

  • B

    Her assets increase by ₹8 Lakhs, but his liabilities also increase by the loan amount.

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Question 16 of 22 in the IIT Madras BS Strategies for Professional Growth (SPG) Quiz 2 paper sat on 12 Apr 2026, in the January 2026 term (Strategies For Professional Indian Institute Of Technology, Madras - Bs In Data Science And Applications Growth 07 Apr 26). It carries 1 mark.

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